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US CPI didn't disappoint

EGB SUMMARY

Well, all eyes were on the US CPI, and the data did not disappoint.

  • Big beat on the data saw Global Govies plummet further, after seeing decent pressure already yesterday on the expectation of a pick up in inflation.
  • US CPI +0.9166% unrounded for core and +0.7700% headline.
  • Rolling back the database, looks like it was the highest M/M core print since September 1981.
  • Bund Yield broke through the 2020 high at -0.14%
  • In futures, support now comes at 168.96 0.618 proj of the Jan 27 - Feb 25 - Mar 25 price swing
  • In terms of yield, 0% in Bund would equate to 167.14. Still a long way to go.
  • Italian 10yr Yield are once again above Greece and are both above 1%
  • Looking ahead, Riksbank's Breman Participates in Panel on Climate,.
  • Fed Bostic and Harker are still scheduled

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